Metal Scrap Performance in China
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Metal scraps performances in Foshan market on May 29
2025-5-29
Copper: Today, the copper price in Foshan market continues to be stable, and market transactions continue to be cautious. At present, SHFE copper maintains a narrow consolidation around 78,000 yuan, while LME copper fluctuates around 9,600 dollars. This week's trend is still dominated by range fluctuations. The minutes of the Federal Reserve meeting were released, and policymakers believed that economic uncertainty was high, and they waited for a clearer prospect before acting. Trump tariffs were stopped by the judiciary, the US dollar index rushed above the 100 mark, and copper futures fell slightly under pressure. Entering the seasonal off-season, the demand of copper market continues to weaken, and copper manufacturers generally report that orders are less, so the purchase is still based on demand. Weak demand weakens the upward momentum, but in view of the easing of tariff concerns, the demand in the copper market is still resilient, and the short-term copper price may be limited.
Aluminum: Today, the aluminum price in Foshan market is stable, and the low inventory still supports the short-term aluminum price. At present, SHFE aluminum still fluctuates above the 20,000 mark. At present, the arrival of goods in various markets is less, social stocks continue to go to the warehouse, and although consumption is expected in the off-season, the actual slowdown is slightly slower. Aluminum manufacturers in the price is relatively stable and the Dragon Boat Festival holiday eve under the right amount of material preparation, the transaction improved.
Zinc: Zinc remained weak and fluctuated. Traders were more cautious in receiving goods, and basically maintained low inventory operation. They only inquired about the goods after receiving orders. Downstream manufacturers were worried about the price of zinc in the after-market, mostly waiting and seeing, purchasing in small quantities with rigid demand, and the market transactions were dull.
Stainless Steel: Stimulated by the news of Indonesia's nickel quota increase, LME nickel fell nearly $15,000. Nickel price diving dragged down stainless steel futures, coupled with the news that steel mills have successively reduced production, the shrinking demand in the off-season sounded the alarm, and the risk aversion in the waste industry rose sharply. Manufacturers kept the attitude of price reduction and continued to lower the receipt, and the price of waste stainless steel fell across the board. (for reference only)
Aluminum: Today, the aluminum price in Foshan market is stable, and the low inventory still supports the short-term aluminum price. At present, SHFE aluminum still fluctuates above the 20,000 mark. At present, the arrival of goods in various markets is less, social stocks continue to go to the warehouse, and although consumption is expected in the off-season, the actual slowdown is slightly slower. Aluminum manufacturers in the price is relatively stable and the Dragon Boat Festival holiday eve under the right amount of material preparation, the transaction improved.
Zinc: Zinc remained weak and fluctuated. Traders were more cautious in receiving goods, and basically maintained low inventory operation. They only inquired about the goods after receiving orders. Downstream manufacturers were worried about the price of zinc in the after-market, mostly waiting and seeing, purchasing in small quantities with rigid demand, and the market transactions were dull.
Stainless Steel: Stimulated by the news of Indonesia's nickel quota increase, LME nickel fell nearly $15,000. Nickel price diving dragged down stainless steel futures, coupled with the news that steel mills have successively reduced production, the shrinking demand in the off-season sounded the alarm, and the risk aversion in the waste industry rose sharply. Manufacturers kept the attitude of price reduction and continued to lower the receipt, and the price of waste stainless steel fell across the board. (for reference only)
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